SOUTH CAROLINA
| REF | STATE | LOCATION | ANNUAL GROSS $ | STATUS | PRIVATE SALE / BROKER |
|---|---|---|---|---|---|
| 4592 | SC | Myrtle Beach | $1,014,095 | new | Thrive Financial Group, LLC |
A two-partner firm located in the Myrtle Beach, SC area. The firm has one manager with strong ties to the community and is socially active soliciting clients.
Client Mix
Accounting
7 Monthly Clients - $42,000
13 Quarterly Clients - $39,430
2 Annual Clients - $1,000
Income Tax
724 Individuals - Average Fee $508.00 Total - $367,817
292 Businesses - Average Fee $1,261.00 Total - $368,214
58 Other - Average Fee $500.00 Total - $29,000
3 Reviews - $12,000
Sales Tax - $22,140
Payroll Deposits - $107,924
License/Property Tax - $205
Total Gross (Cash Basis) - $1,014,915
Asking Price - 1.1x Gross
Due to the predominantly tourist nature of the location and no one industry concentration, the firm is diversified. Eight of the top eighteen clients are involved in restaurant, hospitality business. The firm also provides service to clients involved in the construction industry. The firm’s senior staff is strong (two senior partners, one manager, one senior), and we recommend the retention of the full staff by the successor firm. The firm’s building is owner occupied with no formal lease.
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